General Pension Society PZU Joint Stock Co Purchases 66,800 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

General Pension Society PZU Joint Stock Co boosted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 7.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 938,904 shares of the natural resource company’s stock after acquiring an additional 66,800 shares during the period. Freeport-McMoRan makes up approximately 11.0% of General Pension Society PZU Joint Stock Co’s holdings, making the stock its 2nd largest holding. General Pension Society PZU Joint Stock Co owned approximately 0.07% of Freeport-McMoRan worth $35,753,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Asset Planning Inc bought a new position in shares of Freeport-McMoRan during the 4th quarter worth about $25,000. Mizuho Bank Ltd. acquired a new position in Freeport-McMoRan in the fourth quarter worth about $26,000. Vision Financial Markets LLC acquired a new position in Freeport-McMoRan in the fourth quarter worth about $27,000. Roxbury Financial LLC bought a new position in Freeport-McMoRan during the fourth quarter worth about $28,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in Freeport-McMoRan during the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Dbs Bank raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. UBS Group lowered their price target on Freeport-McMoRan from $52.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Scotiabank increased their price objective on Freeport-McMoRan from $40.00 to $43.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 14th. Wolfe Research raised Freeport-McMoRan from a “peer perform” rating to an “outperform” rating and set a $39.00 price objective for the company in a report on Wednesday, April 16th. Finally, Argus downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.36.

Freeport-McMoRan Stock Up 1.5%

Shares of NYSE:FCX opened at $39.62 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. The firm has a market cap of $56.94 billion, a P/E ratio of 30.71, a P/E/G ratio of 0.87 and a beta of 1.65. Freeport-McMoRan Inc. has a 12 month low of $27.66 and a 12 month high of $53.89. The company’s 50-day moving average price is $36.44 and its two-hundred day moving average price is $38.52.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The company had revenue of $5.73 billion for the quarter, compared to analyst estimates of $5.36 billion. Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. Freeport-McMoRan’s quarterly revenue was down 9.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 earnings per share. As a group, research analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.51%. The ex-dividend date was Tuesday, April 15th. Freeport-McMoRan’s dividend payout ratio is 24.79%.

Freeport-McMoRan Profile

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals. The company's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.